Brokers Issue Forecasts for BCE's Q3 Earnings (NYSE:BCE)

BCE Inc. (NYSE:BCE - Free Report) TSE: BCE - Research analysts at Desjardins cut their Q3 2024 earnings estimates for BCE in a note issued to investors on Tuesday, November 5th. Desjardins analyst J. Dubreuil now forecasts that the utilities provider will post earnings of $0.55 per share for the quarter, down from their prior estimate of $0.58. The consensus estimate for BCE's current full-year earnings is $2.20 per share. Desjardins also issued estimates for BCE's Q4 2024 earnings at $0.50 EPS.

A number of other equities research analysts also recently commented on the company. Canaccord Genuity Group downgraded BCE from a "buy" rating to a "hold" rating in a report on Tuesday. BMO Capital Markets upped their price target on BCE from $48.00 to $51.00 and gave the company a "market perform" rating in a research note on Thursday, September 19th. Edward Jones lowered shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday. Barclays lowered their target price on shares of BCE from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 9th. Finally, National Bank Financial lowered shares of BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $46.33.

BCE Trading Down 2.3 %

BCE stock traded down $0.65 during midday trading on Thursday, reaching $28.09. The company's stock had a trading volume of 7,241,944 shares, compared to its average volume of 2,279,001. The business's 50-day simple moving average is $33.87 and its 200-day simple moving average is $33.64. The stock has a market cap of $25.63 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 4.87 and a beta of 0.59. BCE has a 52 week low of $27.29 and a 52 week high of $41.77. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 2.00.

Hedge Funds Weigh In On BCE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCE. AE Wealth Management LLC lifted its position in BCE by 2.6% during the 2nd quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider's stock worth $466,000 after buying an additional 367 shares in the last quarter. Caldwell Sutter Capital Inc. raised its holdings in BCE by 3.9% during the third quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider's stock worth $413,000 after acquiring an additional 445 shares in the last quarter. First Affirmative Financial Network boosted its position in BCE by 6.1% during the third quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider's stock valued at $285,000 after purchasing an additional 472 shares during the last quarter. Simplicity Wealth LLC grew its stake in BCE by 4.7% in the second quarter. Simplicity Wealth LLC now owns 11,331 shares of the utilities provider's stock valued at $367,000 after purchasing an additional 509 shares in the last quarter. Finally, Brown Lisle Cummings Inc. increased its position in shares of BCE by 60.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider's stock worth $52,000 after purchasing an additional 600 shares during the last quarter. 41.46% of the stock is owned by institutional investors and hedge funds.

BCE Company Profile

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.